Feds Arrest Peregrine CEO After $215 Million Goes Missing

Peregrine CEO Russell Wasendorf, Sr.

Four days after attempting suicide the CEO of now bankrupt Peregrine Financial Group was arrested and charged for lying to regulators about the firm’s finances.

Russell Wasendorf, Sr. was arrested and charged today after his futures brokerage filed bankruptcy this week. The arrest comes after regulators accused PFG of fraud, misusing of client money, violating customer fund segregation laws and making false statements about its finances.

To make matters worse, roughly $215 million in client assets are missing amid the mess. This is the second time a futures brokerage has been hit with a financial scandal resulting in lost customer funds.

Read the rest of this story at Forbes.com